Bitcoin might rise $1000 unexpectedly soon

[qwertyGuy]

what if whales are afraid now to dump bitcoins because other exchanges may not follow and they will have to buy back for higher price a while later?

Whales are not going to dump anything before 2017-2020. For now it is mostly guppies are running around and making all the noise.

Whales do not hold coins long term. They use the coins to manipulate price.

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[smoothie]

what if whales are afraid now to dump bitcoins because other exchanges may not follow and they will have to buy back for higher price a while later?

Whales are not going to dump anything before 2017-2020. For now it is mostly guppies are running around and making all the noise.

Whales do not hold coins long term. They use the coins to manipulate price.

lol Hard to manipulate the price by using coins without actually holding coins. Your theory makes little sense.

[vokain]

what if whales are afraid now to dump bitcoins because other exchanges may not follow and they will have to buy back for higher price a while later?

Whales are not going to dump anything before 2017-2020. For now it is mostly guppies are running around and making all the noise.

Whales do not hold coins long term. They use the coins to manipulate price.

lol Hard to manipulate the price by using coins without actually holding coins. Your theory makes little sense.

what do you guys consider to be a whale nowadays?

[mccorvic]

I hope it isn't too soon.  I need more time to acquire coins.

Mooooaaaaar time.

[Tirapon]

what if whales are afraid now to dump bitcoins because other exchanges may not follow and they will have to buy back for higher price a while later?

Whales are not going to dump anything before 2017-2020. For now it is mostly guppies are running around and making all the noise.

Whales do not hold coins long term. They use the coins to manipulate price.

lol Hard to manipulate the price by using coins without actually holding coins. Your theory makes little sense.

what do you guys consider to be a whale nowadays?

Maybe >10 000 BTC?

[nobbynobbynoob]

what do you guys consider to be a whale nowadays?

Maybe >10 000 BTC?

>BTC1.000 IMHO.

[muyuu]

$1000? those are still cheap BTCitcoins.


BUUUuuUuUuYYyyy 

[Tirapon]

what do you guys consider to be a whale nowadays?

Maybe >10 000 BTC?

>BTC1.000 IMHO.

How much would you be able to move the market with BTC1000?

[BitchicksHusband]

rpietila talked about moving the market from 117 to 109 using a thousand bitcoins.  So right now, if it's twice that distance, about $12.

[vokain]

rpietila talked about moving the market from 117 to 109 using a thousand bitcoins.  So right now, if it's twice that distance, about $12.

https://www.bitstamp.net/market/order_book/

as of the time of this post on bitstamp,  a 1000 BTC market sale would take us from ~203 to ~198, assuming no dark pool orders on bitfinex

[BitchicksHusband]

But you're not taking the panic sells into account.  When someone dumps big a lot of smaller fries also dump.

[Zawamiya]

Bitcoin might also drop to $1 unexpectedly. Anything can happen..

[painlord2k]

.......
But if you want a number, I would say/speculate ~100 000$ per BTC in 2017 and closer to 1 000 000$ per BTC in 2020.

I agree with the price targets, but the times could be a lot closer than many thinks or are able to foresee.
The reason is fiat money is backed by "the full faith in governments ability to keep their value stable".
If this faith (because it is blind faith) is shaken, you will see a lot of movements inside bitcoin from every fiat currency.
The main point is the differential growth of the base money of Bitcoin compared with all other fiat currencies.
Not only the price is pushed up by the increasing adoption and use, but the differential inflation (will) make bitcoin a better investment than T-Bill, Bunds, Bonos, Buoni, etc. without the counterparty risk of a bill/bond.

It is a feedback loop where increasing in price drive adoption (for payment and speculation/saving) and adoption drive increasing price.

[b!z]

Maybe there is a chance that it could happen in a few years. Not this year, though.

[adamstgBit]

Maybe there is a chance that it could happen in a few years. Not this year, though.

early next year?

[chriswilmer]

Maybe there is a chance that it could happen in a few years. Not this year, though.

early next year?

I think if we break the ATH, which could be this month (who knows), then anything is possible. I guess there are only 60 or so days left of this year... so yeah, $1,000 would be a Christmas miracle

[Zangelbert Bingledack]

The only real limits on insane growth are the infrastucture buckling under the traffic, major governments bringing out the banhammer, or some development or mining shenanigans that could happen simply because the defense mechanisms aren't given enough time to adapt.

Because of those upper limiting factors I don't think we can reach mainstream in less than 2-3 years. Probably more like 5-7, or up to 10, for full mainstream adoption. Bitcoin grows exponentially, but infrastructure and best practices don't.

Though arguably, once Bitcoin's totally ready, the adoption could be lightning fast, simply because when fiat money and gold are eyed suspiciously while Bitcoin ascends to royalty, their flaws will be truly frightening. It's not scary to own  obviously inferior assets at a time when people see them as superior, but when people actually are recognizing their inferiority as an accounting system it will be genuinely scary to be holding slips of paper and chunks of metal.

[Shallow]

We won't see 1k for at least another year

[adamstgBit]

We won't see 1k for at least another year

lol

there's only one way to get to 10K if bitcoin is successful in just one use cases it implies a value of more then 1K easy.


Bitcoin might rise $1000 unexpectedly soon!!!

[BitchicksHusband]

But that doesn't guarantee that we will be over $1000K a year from now.